Whois & Analysis for maxmortgages.ca

A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses.

Traditionally, banks and other lending institutions have sold their own products.

As markets for mortgages have become more competitive, however, the role of the mortgage broker has become more popular.

In many developed mortgage markets today, (especially in the United States, Canada, the United Kingdom, Australia, New Zealand, and Spain), mortgage brokers are the largest sellers of mortgage products for lenders.

Mortgage brokers exist to find a bank or a direct lender that will be willing to make a specific loan an individual is seeking.

Mortgage brokers in Canada are paid by the lender and do not charge fees for good credit applications.

In the US, many mortgage brokers are regulated by their state and by the CFPB to assure compliance with banking and finance laws in the jurisdiction of the consumer.

The extent of the regulation depends on the jurisdiction.

Mississauga, historically known as Toronto Township, is a city in the Canadian province of Ontario.

It is situated on the shores of Lake Ontario in the Regional Municipality of Peel, adjoining the western border of Toronto.

With a population of 717,961 as of 2021, Mississauga is the seventh-most populous municipality in Canada, third-most in Ontario, and second-most in the Greater Toronto Area (GTA) after Toronto itself.

However, for the first time in its history, the city's population declined according to the 2021 census, from a 2016 population of 721,599 to 717,961, a 0.5 percent decrease.

A mortgage loan or simply mortgage, in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.

The loan is "secured" on the borrower's property through a process known as mortgage origination.

This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms.

The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.

A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".